Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Medical Office Space
4119 9th St Des Moines, IA 50315-3466
Entity Owned
4-yr Hold
Free & Clear
Property ID
US25-0200274
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1996
Construction
FRAME
Total area
4,405 SF
Lot
0.46 ac (20,160 SF)
Zoning code
C-1
APN
120/06590-001-000
UPID
US25-0200274
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dental Associates Dental Office
-
Dr. Ryan Shaw Dental Office
-
Benjamin James Nagel Dental Office
-
Kenton Charles Gleichman Dental Office
-
Ryan Patrick Shaw Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.02M
CAP Approach
CAP
$785k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$985k
Owner & transaction history
Walz Capital Des Moines LLC · 4 yrs held
Walz Capital Des Moines LLC
since 2022
Last sale
$1.1M
5 recorded transactions
Zoning & alternative use
C-1 · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$760,000
+3.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$975,000
ML approach
$1,015,000
CAP Approach
CAP Return
Estimation
6%
$850,000
6.5%
$785,000
7%
$730,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$735,000
Current use
AUTO REPAIR, GARAGE
$760,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±10% · vs last sale $1.08M (Jan 3 2022)
Last sale anchor
$1.08M
Jan 3 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$224 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$16,276
Tax year 2020
Assessed value
$466,000
Assessed 2023
Previous assessed
$466,000
+0.0% YoY
Effective rate
3.49%
On assessed value
Assessed land
$128,000
Assessed improvement
$338,000
Land market value
$128,000
Improvement market value
$338,000
Total market value
$466,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1996
Construction
FRAME
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
4,405 SF
Lot
0.46 ac (20,160 SF)
Zoning code
C-1
APN
120/06590-001-000
UPID
US25-0200274
Jurisdiction
POLK
Zoning & alternative use
C-1 · Des Moines, IA
Zoning C-1 · permitted uses
C-1 · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$735,000
AUTO REPAIR, GARAGE
Est. value
$760,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Walz Capital Des Moines LLC
Entity
Free & Clear · 4 yrs held
Mailing address
3621 N WILTON AVE APT #3, CHICAGO, IL 60613-7317
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2022
—
Walz Capital Des Moines LLC
—
Deed
related
$807,278 · Joel B Lackey
Apr 14, 2022
—
Walz Capital Des Moines LLC
—
Deed
related
$807,278 · Bank Of America NA
Jan 3, 2022
$1,076,500
Walz Capital Des Moines LLC
Dapc Building 2 LLC
Special Warranty Deed
—
May 8, 2020
$150,000
Dapc Bldg 2 LLC
Mark J Hillman
Warranty Deed
—
Feb 4, 2008
—
Hillman Mark J Trust
Hillman,rosemary T
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 4119 9th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
